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Singapore Exchange (SGX) will set up a new hub at the CME Group's co-location facility in a Chicago suburb to offer direct connectivity to North American customers.
SGX, which operates Singapore's equity and derivative markets, said it will set up the SGX Chicago Hub at CME's facility in Aurora, Illinois. The set-up will allow North American customers to directly trade SGX's portfolio of equity, foreign exchange and commodities future contracts that are approved for such activities by the US Commodity Futures Trading Commission.
"Through this point of presence we will bring investors in North America closer to Asia's markets while entrenching SGX's role as the world's largest offshore market for Asian equity index futures," SGX chief executive Loh Boon Chye said in a statement.
Shares of SGX closed at S$7.38 on Tuesday, higher by 1.2 per cent or 9 Singapore cents.